Retail gasoline prices in Vietnam were reduced by one percent at the request of the Ministry of Finance and the Ministry of Industry and Trade on Wednesday, following the global downward trend.

Vietnam's most popular gasoline grade 92-RON now sells at VND17,052 (76 US cents) per liter.

Meanwhile, the bio-fuel grade E5, which has been heavily promoted by the government, is priced at VND16,559 (74 cents) per liter thanks to the one-percent decrease.

Mazut price was decreased by 0.8 percent to VND9,488 (42 cents) per liter.

The price of diesel oil was maintained at VND13,945 (62 cents) per liter.

However, kerosene price was increased by 0.9 percent to VND12,647 (54 cents) per liter.

The ministries said the price of 92-RON gasoline in Singapore, Vietnam’s major supplier, was sold at $57 a barrel on average over the last 15 days, down 1.7 percent from the previous fifteen-day period.